I saw $CRED at 13M few days back but I entered at $17M.
All because
@crediblefin business already runs a capital efficient float model as it advances stablecoin liquidity so merchants in remittances, creator platforms and gaming get T+0 settlement without locking their own capital for days. That creates sticky, high friction volume traditional processors simply refuse.
At current levels I believe it is still being priced as a speculative ownership paper. Remember it is a regulated MSB with $900M+ processed volume whose net settlement margin is designed to flow to the token under MetaDAO control.
Imo the market has not yet connected the operating float to the actual claim structure.
h/t to
@artemis for the data